Federal Tax Return

Filing a federal US tax return

We offer the preparation & filing of a federal tax return.

How do US Federal Taxes work?

The US federal tax is the main US tax that is paid to the federal tax office. The US Federal Tax is a progressive tax that is calculated on a Tax Table. However, if you earn no more than $ 9.525, your tax will be 10% of your income.

Tax reform 2017

You may have noticed that in 2017 a major tax reform was approved in the US. It affected not only US citizens but also WaT students who travel to the US every year. The main change, which unfortunately negatively influenced foreign students, was the cancellation of the $ 4,050 deductible item. This deductible item reduced the tax base, which resulted in a lower tax liability and higher tax refunds. At present, the only possible deductible item for non-resident tax returns is the amount of state and local taxes paid.

You can read more about tax reform on our blog HERE.

As a result of US tax reform, federal tax refunds are now minimal, and even more so unless your employer deducts at least 10% from your wage, tax arrears even arise.

You can read more about how to calculate federal taxes on our blog HERE.

Is filing a US tax return mandatory?

Yes, under US tax law, it is a duty to file a federal tax return for any person who has any income in the US.

What do you need to file a US federal tax return?

W-2 form - this is a form that your employer is required to submit to you no later than January 31st last year. This form contains all summary information about your wages, taxes paid, etc. If you cannot access the W-2 form, eg. if your employer does not communicate with you, the last paycheck from your employer can serve as a replacement. However, we recommend that you do everything possible to receive your W-2 form. The tax office may refuse the paycheck as proof of your income and taxes paid.

Social Security Number - a 9-digit number that you receive from US authorities when you work in the US. Without a valid SSN, filing a tax return is impossible.

When is it necessary to file a tax return?

The US tax return deadline is April 15th of the following calendar year. If you have an outstanding balance in your taxes, you must meet this deadline because, after April 15th, the tax office will start to charge for late filing and late payment.

How long does it take to get an overpayment?

The federal tax surplus is usually refunded within 4-12 weeks. In certain cases, if the tax authority chooses a specific tax return for a random audit, this period may be extended.

Have taxes sent by check or to a US bank account?

If you still own a US bank account, this option is a better option. For the first time, you will receive your tax refund faster and avoid the risk that your refund check will be lost during shipping. Importantly, you can only send a tax overpayment to an account that is on your behalf, otherwise, your bank may decline it and will significantly increase your time to access your money.